AI Stocks Experience Another Sharp Pullback, with Most Star Stocks Falling Over 5%

BlockBeats News, June 29th, according to Bitget market data, after the opening of the US stock market, the Nasdaq 100 index reversed from gains to losses.

The Philadelphia Semiconductor Index extended its decline to 2.5%, with Micron Technology and Arm falling over 8%, Intel falling 7%, Marvell Technology falling over 5%, and Nvidia down 0.7%.

Earlier, analysts pointed out that due to the end-of-quarter rebalancing needs of large institutions, approximately $165 billion worth of stocks will be sold off at the close of this month.